On Thursday, Macy's stock earned an upgrade to its Relative Strength (RS) Rating, from 78 to 83.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
History reveals that the best stocks typically have an RS Rating of at least 80 as they begin their biggest runs.
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Is Macy's Stock A Buy?
Macy's stock has been trading in a wide consolidation. Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the retail stock is able to offer and clear an appropriate buy point. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The retailer posted negative growth for both the top and bottom lines last quarter.
Macy's stock holds the No. 3 rank among its peers in the Retail-Department Stores industry group. Dillard's and Macy's are also among the group's highest-rated stocks.
